ARTICLES ABOUT GODREJ GROUP BY DATE - PAGE 2

MUMBAI: IDBI Trusteeship Services today offloaded 3.64 lakh shares of Geometric for over Rs four crore, amid reports of a private equity player eyeing Godrej group's stake in the software service provider. According to information available with the bourses, IDBI Trusteeship Services sold 3,64,690 shares of Geometric through the open market route. The shares were offloaded at an average price of Rs 119.65, valuing the transaction at Rs 4.36 crore. However, the identity of buyer(s)

MUMBAI: In the fight for talent at top business schools, a handful of companies are using a targeted strategy to stand out. A combination of factors including previous experience, institute strengths and student interest have led to companies like Philips India , the RPG Group and Godrej Group visiting specific B-schools to hire for specific business functions. From the organisations' standpoint, there are several advantages to the targeted hiring method. For one, it makes sense to capitalise on the tried-and-tested individual competencies created by certain B-schools.

DUBAI: Godrej has launched an exclusive experience centre, spanning across 4,200 sq metres, in Dubai in partnership with a leading local business conglomerate. The centre showcases furniture for offices, laboratories and health care segments, security products and locking solutions . It has several features such as a replica of a bank vault room with strong room door and locker cabinets inside. The centre has been launched by Godrej group in collaboration with the Zayani and Company . "By launching this showroom in the UAE with our long-time partners Zayani & Company, we are cementing our strong commitment to the development of business in this region," said Vikas Choudaha, senior vice-president and head commercial, Godrej & Boyce Manufacturing Co Ltd. "As a part of our commitment to bring the company closer to our customers in Middle East and North Africa, we have set up offices in the UAE and Saudi Arabia," he said.

ET Now's Nikunj Dalmia shares his views on Geometric. Excerpts: Nikunj Dalmia: I have got Geometric back again on my radar. The basic market layout or the template of Geometric is simple. The outlook for midcap IT stocks in the last one month has improved immensely. Geometric has suffered in Q1 and Q2 because of the client issue. However, my understanding is that Geometric Software has managed to regain some lost business momentum. In fact, from existing clients, the business outsourcing for Geometric could go up by about 40-50 per cent.

NEW DELHI: Realty firm Godrej Properties' net debt has fallen by 22 per cent to Rs 1,260 crore during the second quarter of this fiscal, mainly with the help of funds raised through rights issue. Net debt of Godrej Properties, the realty arm of Godrej Group, stood at Rs 1,611 crore at the end of the first quarter of this fiscal. "Our total net debt of Rs 1,260 crore stands at the lowest level it has been in the past 2 years and our borrowing cost has declined both year-on-year and quarter-on-quarter to approximately 11.3 per cent," Godrej Properties Ltd Managing Director & CEO Pirojsha Godrej said.

In an interview with ET Now, Adi Godrej, Chairman, Godrej Group , shares his business outlook and growth expectations. Excerpts: ET Now: Congratulations on the kind of performance that we have seen in the stock. Now given that there have been so many concerns particularly with respect to the moderation in demand, what is it that we can expect from your company going forward? Adi Godrej: Well, I cannot talk of the specific results because our board meeting is on Monday, but we have grown very well over the last few quarters and we expect to continue to grow well.

In an interview with ET Now, Adi Godrej, Chairman, Godrej Group, speaks on buying stake in hair salon chain B:blunt and shares his business outlook. Excerpts: ET Now: How would you respond to the move of buying 30% stake in the hair salon chain B:blunt and if you could disclose the sum at which this is being bought at? Adi Godrej: The valuation at which we are buying this stake is confidential, but I can tell you that it is a very small amount. This reaction is totally uncalled for. ET Now: But given that there is almost Rs 2000-crore debt on the books, would not this only add pressure to the balance sheet?

NEW DELHI: Godrej Properties today announced an agreement with Ador Group to develop a luxury housing project spread over almost seven acres in Mumbai. Godrej Properties, the real estate arm of Godrej Group , said it has signed a development agreement with Ador Group for a 6.7 acre land parcel situated on LBS Marg at Bhandup (W) in Mumbai. The project, which has a saleable area of about 7.76 lakh sq ft, will be developed as a premium residential group housing project, Godrej Properties said in a statement.

JOHANNESBURG: India's diversified group Godrej says its fast growing realty estate business could become the biggest venture for the conglomerate in the next 10 years. "The real estate business is growing much faster than our other businesses. In next 10 years, it will be one of our bigger businesses. Its possible it might become the biggest business," Godrej Group Chairman Adi Godrej told PTI here. Godrej Properties, the realty arm of Godrej Group, follows a joint venture model with land owners for development of the real estate projects, he added.

In a small room in the Godrej Archives, located in Plant 19A of the group's sprawling campus in Vikhroli, Mumbai, a young archivist is delicately cleaning a bunch of letters with a soft brush. Dating from the late 1990s, the letters are from the Indian Space Research Organisation (ISRO) to Godrej & Boyce Manufacturing Company, which then had the contract to manufacture of engines for the first Polar Satellite Launch Vehical (PSLV). The letters have recently been discovered gathering dust in the company's process equipment division and they have been deemed to be of some historic significance.